How to Become an Accounting Professor (Crunch Numbers, Shape Minds!)

If you’ve ever dreamed of educating the next generation of finance professionals or pondered about what it takes to become an accounting professor, you’ve landed on the right page.

In this guide, we’ll delve into the EXACT steps you need to embark on your journey to become an accounting professor. We’ll discuss:

The skills you need.
The education necessary for this career path.
How to secure a position as an accounting professor.

So, whether you’re a fresh finance graduate or an experienced accountant seeking to transition into academia, stay tuned.

We’re about to unravel the roadmap to becoming an accounting professor.

Let’s embark on this journey!

Contents show

Steps to Become an Accounting Professor

Step 1: Obtain a Bachelor’s Degree in Accounting or Related Field

Pursuing a career as an Accounting Professor begins with earning a Bachelor’s degree in Accounting or a related field such as Business, Finance, or Economics.

This foundational education provides a comprehensive understanding of the principles, techniques, and knowledge necessary for a career in Accounting.

The curriculum typically includes courses in financial accounting, managerial accounting, business law, auditing, taxation, and economics.

You will learn to analyze financial statements, understand the legal aspects of business, and learn about different tax laws and regulations.

This degree also develops critical thinking, problem-solving skills and communication skills which are essential for a teaching career.

Apart from your course, you should take an interest in seminars, workshops, and internships to understand the practical aspects of accounting.

Having a Bachelor’s degree is mandatory for admission into graduate school, where you’ll need to earn a Master’s degree and eventually a Ph.D. to become an Accounting Professor.

Many undergraduate students also choose to sit for the Certified Public Accountant (CPA) exam to further enhance their qualifications.

Step 2: Gain Practical Experience in Accounting

Before you can teach accounting, you need to have a deep understanding of the field, and there’s no better way to gain that understanding than by working in the field yourself.

After obtaining your bachelor’s degree, seek job opportunities in accounting to gain practical experience.

This might involve working in a public accounting firm, as an internal accountant for a corporation, or in a government agency.

Working in the field will not only provide you with real-world understanding of accounting principles and practices, but it will also give you insight into the problems and situations that accounting students will face once they graduate.

This experience will be invaluable when you start teaching, as you’ll be able to provide your students with practical examples and case studies.

Once you have some practical experience under your belt, you can consider going back to school for a master’s degree or a Ph.D. in accounting, which are usually required for professorship positions in universities.

While pursuing these degrees, you can choose to specialize in a specific area of accounting such as auditing, taxation, or financial accounting, based on your interest and career aspirations.

Step 3: Pursue a Graduate Degree in Accounting or Business

If you aim to become an accounting professor, earning a graduate degree in accounting or business is a critical step.

You should consider pursuing a Master’s degree in Accounting, Business Administration (MBA) with an Accounting concentration, or a similar field.

This advanced degree will provide you with a deep understanding of accounting principles, tax laws, and business operations.

While in your master’s program, you may have an option to choose between a thesis or a non-thesis track.

If you intend to move on to a doctoral program and teach at the university level, completing a master’s thesis is highly recommended as it provides initial exposure to research methodologies and academic writing.

After completing your master’s degree, most aspiring accounting professors pursue a Doctorate in Business Administration (DBA) or a Ph.D. in Accounting or a related field.

These programs delve into detailed aspects of accounting and involve extensive research, culminating in a doctoral dissertation.

Your doctoral research can be an essential component in your career as an accounting professor, as universities often consider your research contributions while hiring faculty.

Remember, most universities expect their faculty members to continually contribute to the academic community through research, so consider your interests in research and academia when deciding to pursue this path.

Step 4: Consider Earning a PhD in Accounting

If you aspire to become an Accounting Professor, obtaining a PhD in Accounting is a critical step.

This rigorous program will provide you with the highest level of education in the accounting field and allow you to conduct original research.

A PhD program usually takes about 4-5 years to complete, during which you will study advanced accounting theory, statistical methods, and research methodology, among other subjects.

As part of the program, you will be required to write and defend a dissertation, which is a research project that contributes new knowledge to the field of accounting.

This process prepares you for academic research and teaching at the university level.

Remember that admission to PhD programs is highly competitive.

Therefore, having a strong academic record, solid GRE or GMAT scores, and relevant work or research experience can boost your chances of admission.

After earning your PhD, you will be well-equipped to apply for faculty positions at universities and colleges, where you can teach and contribute to research in the field of accounting.

This step is crucial for those who aim to influence the next generation of accountants through education and research.

Step 5: Acquire Teaching Experience

Before you can become an accounting professor, you should gain some experience teaching.

This could be as a teaching assistant during your graduate studies or as a lecturer in a community college or university.

This experience will help you develop your teaching style, understand student needs, and enhance your communication skills.

As a teaching assistant, you will work closely with professors to grade papers, lead discussion groups, and sometimes even teach classes.

This experience will also expose you to academic research and give you the opportunity to co-author papers with professors, which is particularly important if you aim to work at a research-intensive university.

If you have the opportunity to teach your own course as a lecturer or adjunct professor, you should take full advantage of it.

This will give you the chance to develop your own syllabus and teaching methods, which will be valuable experience when you apply for tenure-track positions.

Even after securing a position as an accounting professor, it’s important to continue developing your teaching skills by seeking feedback from students and colleagues, participating in professional development opportunities, and staying updated on innovations in accounting education.

Step 6: Stay Current with Accounting Principles and Laws

As an accounting professor, it is essential that you stay up-to-date with the latest accounting principles and laws.

The field of accounting is constantly evolving, with new regulations, principles, and laws being introduced regularly.

These changes can have a substantial impact on the content and approach of your teachings.

You may choose to attend seminars, workshops, or take additional courses to stay informed of the latest changes in the industry.

In addition, subscribing to industry publications and joining professional accounting organizations can provide you with the necessary resources and updates.

Staying current with accounting principles and laws not only benefits your students but also bolsters your credibility and expertise as a professor.

Professors who are well-informed and active in their field are more likely to engage their students and inspire their interest in the subject.

Remember, your role as a professor extends beyond teaching – you are also a guide and mentor for your students, and staying abreast of the latest industry trends allows you to provide the most relevant and up-to-date information to them.

Step 7: Publish Research in Scholarly Journals

As an aspiring Accounting Professor, publishing research in scholarly journals can be a crucial step to bolster your academic reputation and credentials.

This not only serves as evidence of your expertise, but also shows your dedication to expanding the field of knowledge in accounting.

You could start by identifying a research topic that aligns with your interest and expertise.

This could be anything from financial accounting, managerial accounting, tax accounting, auditing, or other specialized areas of accounting.

Conduct thorough research and make sure your work adds value to the existing body of knowledge in accounting.

Collaborate with colleagues or experts in the field, as co-authoring can provide valuable insights and perspectives.

Once your research is complete, it’s time to write a paper detailing your methods, findings, and implications.

Submit your paper to reputable accounting journals for peer review.

This process can take time, so it’s important to be patient.

If accepted, your work will be published and accessible to the global academic community.

Remember, getting published is a significant achievement but maintaining a consistent publication record is equally important.

Regularly contributing to scholarly research not only enhances your curriculum vitae but also keeps you updated with the latest advancements in your field.

This will be beneficial when you apply for professorial positions and even when you’re teaching, as it allows you to incorporate cutting-edge knowledge into your lessons.

Step 8: Network with Academia and Industry Professionals

Networking is a vital part of building your career as an Accounting Professor.

It’s crucial to develop relationships with both academia and industry professionals.

This can not only provide you with valuable advice and mentorship but also open up opportunities for research collaborations, speaking engagements, and job opportunities.

Start by attending academic conferences, industry events, and workshops in the field of accounting.

Be prepared to present your research and engage in discussions about your work.

This will not only help you gain visibility in the community but also give you an opportunity to gather feedback and ideas.

Connect with other professors and professionals through social media platforms like LinkedIn or academic networking sites.

Don’t shy away from reaching out to someone whose work you admire.

They may offer insights that can help you shape your own career path.

Additionally, consider joining professional associations for accounting educators, such as the American Accounting Association.

Such organizations often provide resources and opportunities for networking, professional development, and career advancement.

Remember, networking is not just about taking; it’s about giving as well.

Look for opportunities to support others in their career or academic journey, whether by sharing your own experiences, providing mentorship, or collaborating on projects.

This reciprocal relationship can lead to meaningful, long-term connections that can significantly impact your career as an Accounting Professor.

Step 9: Apply for Tenure-Track Positions

Once you have completed your doctorate and have some teaching experience, your next step in becoming an accounting professor is to apply for tenure-track positions at universities.

These positions are highly competitive, so it’s important to make yourself stand out.

Ensure that you have a strong curriculum vitae (CV) that highlights your teaching experience, research, and any published papers.

A cover letter that demonstrates your commitment to teaching, your specific area of expertise in accounting, and your future research plans will also be beneficial.

While applying, consider the type of university you want to work for.

Different universities have different expectations.

For instance, some may prioritize research while others may put more emphasis on teaching.

Make sure you understand these expectations before you apply.

Once hired in a tenure-track position, you will typically spend several years teaching, conducting research, and publishing your findings.

After a certain period, usually 5-7 years, you can apply for tenure.

Tenure provides job security and usually leads to a promotion from assistant to associate professor.

Remember to network during professional conferences and seminars to increase your chances of landing a desirable position.

Also, consider collaborating with other professionals in the field on research projects to enhance your profile.

In the world of academia, your reputation and connections can significantly influence your career progression.

Step 10: Continue Professional Development and Education

In an ever-changing field like accounting, it’s important to stay updated with the latest industry trends, rules, and regulations.

As an accounting professor, your students look to you to provide them with the most accurate and current information.

This is where your commitment to continuing professional development and education comes into play.

Participate in professional development workshops and seminars, attend conferences, and take advanced courses to enhance your knowledge and skills.

This not only helps you stay updated, but it also allows you to learn about the latest teaching strategies and techniques.

Many professional accounting bodies offer continued professional development (CPD) programs that can help you maintain your professional competence.

For instance, enrolling for courses such as Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Chartered Financial Analyst (CFA) could be beneficial.

You may also want to consider obtaining a doctorate if you haven’t already.

This will give you a more in-depth understanding of the field and can also open up opportunities for more advanced teaching positions or research opportunities.

Remember, the quest for knowledge never ends.

Your commitment to continuous learning will reflect in your teaching and guide your students to be well-equipped professionals in the future.

Step 11: Pursue Tenure and Advance Your Academic Career

After obtaining a role as an accounting professor, you may consider seeking tenure for more job stability and academic freedom.

Tenure typically requires you to have worked in the institution for a specific number of years, have a strong record of teaching excellence, and have a significant amount of published research.

The tenure process involves rigorous evaluations by your peers and superiors.

They will assess your teaching skills, your contributions to the field, and the impact of your research.

Published works in reputable accounting or business journals can significantly boost your chances of obtaining tenure.

After becoming tenured, you can consider advancing your career in academia further.

This might involve seeking higher administrative roles such as department chair, dean, or even president of the institution.

It’s also common for tenured professors to continue focusing on research and publications, or to specialize in a particular sub-field within accounting.

Remember that your career advancement will largely depend on your personal goals and the opportunities available at your institution.

Always strive to excel in your teaching, keep producing high-quality research, and maintain good relationships with your colleagues and students.

Accounting Professor Roles and Responsibilities

Accounting Professors are responsible for teaching accounting principles and practices to students in a classroom setting.

They are expected to have expert knowledge of accounting theory and practice, and they often conduct research in their field.

They have the following roles and responsibilities:

Teaching

Prepare and deliver lectures on various accounting topics.
Design and implement innovative teaching methodologies.
Evaluate and grade students’ class work, assignments, and papers.

Curriculum Development

Develop and revise curriculum in line with current accounting practices and standards.
Contribute to the development of new courses and programs of study.

Research

Conduct research in the field of accounting and publish findings in academic journals.
Stay updated with the latest developments in accounting by attending academic conferences and seminars.

Student Guidance

Provide guidance and academic counseling to students.
Advise students on academic and vocational curricula, and on career issues.

Administration

Participate in departmental and college activities.
Serve on academic or administrative committees that deal with institutional policies, departmental matters, and academic issues.

Community Engagement

Participate in outreach activities with the local community to promote the field of accounting.

Professional Development

Engage in professional development activities, such as attending educational workshops, reviewing professional publications, establishing personal networks, or participating in professional societies.

Collaboration

Collaborate with colleagues to address teaching and research issues.

Mentoring

Supervise undergraduate or graduate teaching, internship, and research work.

What Does an Accounting Professor Do?

Accounting Professors typically work in universities, colleges, and other higher education institutions where they teach courses in accounting to undergraduate and graduate students.

They prepare and deliver lectures on accounting topics such as financial accounting, cost accounting, auditing, tax accounting, and managerial accounting.

They may also teach specialized courses in areas such as forensic accounting, international accounting, and nonprofit accounting.

In addition to teaching, they are responsible for creating syllabi, preparing course materials, assigning and grading homework and exams, and guiding students in their academic research and projects.

They also hold office hours to provide students with additional help and guidance on course materials.

Accounting Professors also conduct their own research in the field of accounting, often specializing in a specific area.

They publish their findings in academic journals, present at professional conferences, and contribute to the advancement of knowledge in their field.

Many Accounting Professors also serve on academic committees, participate in departmental meetings, and may hold administrative positions within their institutions.

They may also provide consultation services to businesses, government agencies, and nonprofit organizations on accounting matters.

Essential Accounting Professor Skills

Deep Knowledge of Accounting: An Accounting Professor should have a deep understanding of accounting principles and practices, including taxation, financial analysis, cost accounting and more.
Teaching Skills: A strong ability to communicate complex ideas in an easy-to-understand way is essential. This includes creating engaging lesson plans, giving lectures, and facilitating discussions.
Research Skills: Many Accounting Professors are involved in research. Skills in conducting and presenting academic research, including the ability to analyze and interpret data, are important.
Communication: Professors need excellent verbal and written communication skills to effectively teach students, work with faculty and staff, and present research findings.
Knowledge of Relevant Software: Proficiency in accounting software, such as Quickbooks, as well as educational technology tools, like Learning Management Systems, can be beneficial.
Advising: Professors often provide guidance to students about career paths and academic goals, so good advising and mentoring skills are important.
Professional Experience: Having professional experience in accounting can help professors bring real-world examples to their teaching and make the material more relevant to students.
Continual Learning: The field of accounting is always changing due to new regulations and technologies. Professors must be committed to lifelong learning to stay up-to-date.
Problem-Solving: The ability to solve problems and think critically is essential for conducting research and teaching students these skills.
Leadership: Professors often hold leadership roles, such as department chair or committee leader. Skills in leadership and administration can be beneficial.
Networking: Building relationships with other professors, professionals in the field, and students is important for career advancement and staying informed about industry trends.
Ethics: Given the importance of ethics in accounting, professors must be able to teach and model ethical decision-making.
Presentation: Professors must be able to present information in a clear and engaging way, both in the classroom and in professional settings.
Writing: Strong writing skills are essential for creating course materials, writing grant proposals, and publishing research.
Patience: Teaching requires patience, both in the classroom and when dealing with administrative or bureaucratic processes in the academic world.

Accounting Professor Career Path Progression

The Foundation: Junior Accounting Professor

Your journey typically begins as a Junior Accounting Professor.

At this stage, you will be teaching undergraduate accounting courses, conducting research, and immersing yourself in the academic community.

Here are some tips for success in this role:

Teaching Excellence: Strive to deliver engaging and informative lectures that inspire students.
Research and Publish: Conduct research in your area of interest and aim to get your work published in reputable academic journals.
Networking: Build relationships with other faculty members and attend academic conferences to broaden your perspectives.

The Ascent: Accounting Professor

With more experience and a growing portfolio of research, you will transition into the role of an Accounting Professor.

You may be responsible for teaching advanced courses, supervising students’ research, and serving on departmental committees.

Here’s how to thrive in this stage:

Advanced Research: Conduct and publish high-quality research that contributes to the field of accounting.
Mentorship: Guide students in their research and career paths, providing valuable insights and advice.
Departmental Contributions: Participate actively in departmental activities and strive to make a positive impact.

Reaching New Heights: Senior Accounting Professor

At the Senior Accounting Professor level, you’ll be recognized for your expertise and leadership.

You might be asked to head a department, lead research teams, and contribute to the university’s strategic planning.

To excel as a Senior Accounting Professor:

Leadership: Assume leadership roles within the department or university, such as department chair or program director.
Academic Influence: Continue publishing influential research and aim to secure grants for your department.
Advocacy: Advocate for your department and students at the university level, and contribute to shaping academic policies.

Beyond the Horizon: Distinguished Professor or University Administrator

As your career progresses, you might become a Distinguished Professor or move into administrative roles, like Dean of the Business School or Vice Chancellor.

Each of these roles involves greater responsibilities, leadership, and strategic decision-making.

Here’s what to focus on:

Strategic Planning: Contribute to the strategic planning and decision-making process of the university.
Mentoring Faculty: Guide junior faculty members and help them grow in their academic careers.
Academic Excellence: Continue to uphold and promote high academic standards in teaching and research.

Pinnacle of Success: University President or Provost

In the highest echelons of the academic career ladder, you could become a University President or Provost.

In these positions, you’ll be responsible for setting the overall academic direction of the institution, overseeing faculty, and ensuring the university’s reputation for academic excellence.

Accounting Professor Salary

Entry-Level Accounting Professor

Median Salary: $60,000 – $80,000 per year
Entry-level accounting professors typically have less than 5 years of teaching experience and usually hold a doctoral degree in accounting or a related field.

Mid-Level Accounting Professor

Median Salary: $80,000 – $110,000 per year
Mid-level accounting professors have 5-10 years of teaching experience and often take on additional responsibilities such as departmental administrative tasks.

Senior Accounting Professor

Median Salary: $110,000 – $150,000 per year
Senior accounting professors have 10+ years of teaching experience and often have a record of published research. They may also hold leadership positions within their department or university.

Department Chair / Dean

Median Salary: $130,000 – $200,000+ per year
These roles require significant teaching and administrative experience. Duties often include managing departmental budgets, faculty hiring and review, curriculum development, and strategic planning.

Provost / University President

Median Salary: $200,000 – $500,000+ per year
These high-level university positions require extensive experience in academia, strong leadership skills, and a demonstrated commitment to advancing the institution’s mission and goals.

Accounting Professor Work Environment

Accounting professors typically work in universities and colleges where they instruct students in various accounting courses and principles.

Their work environment is commonly an academic one, often divided between classrooms, offices, and potentially online platforms for distance learning.

They usually have a structured schedule based on the academic calendar with designated times for teaching, office hours for student consultation, and time for their own research.

However, there could be a degree of flexibility during off-peak academic periods or when conducting independent research.

Beyond teaching, accounting professors may also serve on academic committees, conduct scholarly research, publish papers in academic journals, and participate in professional development activities.

They may also provide academic guidance to students, supervise student research, or mentor doctoral candidates.

Furthermore, some accounting professors may occasionally consult with businesses, government agencies, or nonprofits to supplement their income and stay updated with the latest industry practices.

The work of an accounting professor can be intellectually stimulating and rewarding, but it also requires a significant amount of preparation, grading, and administrative tasks.

FAQs About Becoming an Accounting Professor

What is needed to become an Accounting Professor?

To become an Accounting Professor, you would typically need a Ph.D. in Accounting or a related field.

Some universities may also consider candidates with a Master’s degree, especially if they have significant practical experience.

Strong knowledge in various areas of accounting, such as financial accounting, managerial accounting, auditing, and taxation, is essential.

Additionally, skills in research, communication, teaching, and mentorship are crucial.

An Accounting Professor should also keep up-to-date with the latest accounting practices and theories.

How long does it take to become an Accounting Professor?

The duration it takes to become an Accounting Professor largely depends on the educational pathway.

After obtaining a bachelor’s degree, usually four years, you would need to pursue a Master’s degree, which can take one to two years.

Following this, a Ph.D. typically requires another four to seven years.

This makes the total time frame to become an Accounting Professor roughly nine to thirteen years.

However, this can vary based on the individual’s pace and the time taken for each degree.

Can I become an Accounting Professor without a Ph.D.?

In most cases, universities prefer or require candidates for Accounting Professor positions to have a Ph.D. However, some community colleges or vocational schools may hire individuals with a Master’s degree, especially if they have substantial professional experience in accounting.

Nonetheless, obtaining a Ph.D. can enhance your career prospects and open opportunities for tenure-track positions, research grants, and leadership roles within academic institutions.

Is being an Accounting Professor a stressful job?

Being an Accounting Professor can be stressful at times due to the demands of teaching, grading, researching, publishing, and administrative duties.

Balancing these responsibilities while maintaining a work-life balance can be challenging.

However, many professors find the job fulfilling and rewarding, particularly when they see their students succeed or when their research contributes to the field of accounting.

What are the prospects for Accounting Professors in the next decade?

The job outlook for Accounting Professors is generally positive.

As businesses continue to face increasing financial regulations and complexities, the demand for knowledgeable accounting professionals and educators is expected to rise.

Moreover, as a professor, there are opportunities for career advancement into administrative or leadership roles within academic institutions.

Conclusion

There you have it.

Setting forth on the path to become an accounting professor is no easy task, but it’s indisputably fulfilling.

Equipped with the right academic qualifications, teaching skills, and unwavering determination, you’re on the cusp of making a substantial impact in the world of finance and education.

Remember, the journey may be demanding, but the potential for growth and influence is boundless. Your insights could shape the next generation of accountants and finance professionals.

So, take the initiative. Immerse yourself in continuous learning. Connect with fellow academics and professionals. And most importantly, never stop teaching.

Because the world of finance and academia awaits your contribution.

And if you’re seeking tailored advice on starting or advancing your career as an accounting professor, make use of our AI Career Path Advisor.

This complimentary tool is designed to offer personalized guidance and resources to help you effectively navigate your career path.

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